Settlement Room

Enhanced SSB system

Reducing the incidence of settlement failure

A major upgrade or our existing Self-Service Booking (SSB) service, Settlement Room is designed to eradicate any opportunity for settlements to fail while also making the business of arranging settlement more efficient.

A critical feature of our new software has been the creation of a virtual meeting or “transaction” workspace where all parties in a settlement (outgoing and incoming mortgagees and buyer and seller representatives) can gather online to share, compare and agree on information prior to actual settlement.

Here parties can communicate in real time and verify information about the property, the payout figures, settlement balances and payment directions, dramatically increasing the probability for matters to settle first time.

Settlement Room enables all participants in a transaction to book the date, time and location of each settlement transaction online, providing all parties with real time visibility of the status of a booking.It also allows conveyancers to respond quickly and easily on the morning of settlement and to arrange cheque directions, get cheques sorted and confirm that settlement can go ahead.

The new SSB enhancement will be integrated with Conveyancing Manager(our conveyancing workflow tool), Settlement Manager (our online settlement portal for banks), andSearch Manager (our search platform), providing all parties in the settlement with a highly integrated space to collaborate.

If you are already using Conveyancing Manager, information from this application will automatically prepopulate settlement matters in Settlement Room, eliminating unnecessary re-keying of data. Similarly if you are already using Settlement Manager, information from this application will automatically prepopulate settlement matters in Settlement Room.

Integration will also provide the potential for settlements to be arranged from any of the SAI Global Property settlement related products like Search Manager, Conveyancing Manager, Settlement Manager or if you do not use any of these products, from Settlement Room directly, removing the need to log into numerous platforms and systems to complete arranging settlement.

Our Conveyancing Suite and property transaction cycle

For more information about how we can help, call our Helpdesk on 1300 730 000 or complete our contact us form and we will contact you.